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Ukraine Bank Mulls Blockchain Implementation After Stellar Pilot Run

One of Ukraine’s oldest commercial banks, TASCOMBANK, has recommended using blockchain technology after using the Stellar (XLM) network for an electronic money pilot. The bank conducted a pilot related to decentralized technology and recommended the “adoption of to transform the payment landscape of Ukraine.”

The report issued provides information to the National Bank of Ukraine and the Ministry of Digital Transformation of Ukraine. It listed several advantages of decentralized technology. These include greater transparency and accountability, improved security and confidentiality, low transaction costs, instant payments, and high throughput.

(By Rahul Nambiampurath)

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